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57 Punishment for personation of shareholder.

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CHAPTER IV

Section 57 of Companies Act 2013

If any person deceitfully personates as an owner of any security or interest in a company, or of any share warrant or coupon issued in pursuance of this Act, and thereby obtains or attempts to obtain any such security or interest or any such share warrant or coupon, or receives or attempts to receive any money due to any such owner, he shall be punishable with imprisonment for a term which shall not be less than one year but which may extend to three years and with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees.

Short Notes:

  • This section came into force from September 12, 2013.
  • It seeks to provide penalty for a person who deceitfully personates the owner of any share or interest.

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